FMCG firm Marico on Friday reported a 25.81% increase in consolidated net profit at Rs 138.43 crore for the March quarter on account of growth in domestic and international markets.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The company had reported a net profit of Rs 110.03 crore in the corresponding quarter a year ago, it said in a Bombay Stock Exchange (BSE) filing.

Marico's consolidated net sales during the quarter under review stood at Rs 1,302.78 crore, up 6.52%, as against Rs 1,222.98 crore in the same quarter in 2014-15.

"The India business achieved a turnover of Rs 986 crore during the quarter, a value growth of about 4% over the fourth quarter (Q4) of the fiscal year 2014-15. The business continues to gain market share in more than 95% of the portfolio on 12 months MAT basis. The volume growth in India was at 8.4% for the quarter," the company said in a statement.

Its international business achieved a turnover of Rs 321 crore during the quarter, registering a growth of 11% in constant currency basis.

Marico MD and CEO Saugata Gupta said, "We continued our journey of delivering sustainable profitable growth this quarter."

For the year ended March 31, 2016, Marico reported a net profit of Rs 724.79 crore on a consolidated basis, up 26.39%, as against Rs 573.45 crore in 2014-15.

Marico's net sales for the fiscal rose 7.02% to Rs 6,122.39 crore as against Rs 5,720.28 crore in 2014-15.

"Deflation and severe drought conditions may make a short-term growth in India a challenge. However, with prospects of a good monsoon and consumption pick up in the second half of the year, we remain confident of delivering 8-10% volume growth in India and a double-digit constant currency growth in the international segment," Gupta added.

Shares of Marico on Friday settled at Rs 258.30 on BSE, up 2.77% up from its previous close.